2012-12-19
2012-12-19
x china

STATION
CNBC 6
CSPAN2 5
CSPAN 2
KQED (PBS) 2
KCSM (PBS) 1
KRCB (PBS) 1
KTVU (FOX) 1
SFGTV2 1
LANGUAGE
English 20

Set Clip Length:


senator that's done more to help america's heroes adjust to life after the military. that's just one of the reasons why she will be sorely missed. here's another reason, though: kay has fought time and time again to promote tax relief for hardworking texas families. in thehooin the mid-1990's, shed create the so-called homemaker ira to make sure that stay-at-home moms and dads were able to save for their retirement on an equal basis with their counterparts who worked outside the home. i now it is one of her proudest achievements and i'm proud to join with the senator from merrell, senator barbara mikulski, in attempting to rename this ira the kay bailey hutchison spousal ira in her honor, and i hope, mr. president, we can join together and honor senator hutchison by getting that done before we close out our business this year. kay, of course, has always championed the state sales tax deduction, which may not seem like a big deal to others in this carriage carriages but it . but it is a big deal in texas. we don't have a state income tax. but we do pay a state sales tax. and of course

. host: the stories are "the in- sourcing boom" and "mr. china comes to america. both can be found at theatlantic.com. thanks for joining us. we will take you live to the house floor. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] the speaker pro tempore: the house will be in order. the chair lays before the house a communication from the speaker. the clerk: the speaker's room, washington, d.c., december 19, 2012. i hereby appoint the honorable daniel webster to act as speaker pro tempore on this day. signed, john a. boehner, speaker of the house of representatives. the speaker pro tempore: the chair will receive a message. the messenger: mr. speaker, a message from the senate. the secretary: mr. speaker. the speaker pro tempore: madam secretary. the secretary: i have been directed by the senate to inform the house that the senate has agreed to s. res. 624, relative to the death of the honorable daniel k. inouye, senator from the state of ohio. -- hawaii. the speaker pro tempore: pursuant to the order of the house of

. then he is scheduled to come back to america. now another one of his luckiest experiences. they have a transport plane to take him to america. his arm is gone by then. he is told we don't have room for another litter. another patient on the air plane. you can't go he was disappointed but the plane crashed and killed everybody on the plane. so dan inouye was a person who considered himself lucky. those of us who knew senator inouye consider ourself lucky, just being able to know the man. after hawaii received statehood in 1959. he was their first congressman. three years later he was a electricitied to the senate and has been a soft, powerful voice for the people of hawaii ever since. the many personal courtesies he has extended me i will never forget. may not seem like much. but i had something and i was scheduled to be in florida, and i had promoted this great senator inouye was going to be there. and i got a call from henie en -- henry, who was long-time senator inouye's chief of staff. he checked the schedule and it's his wife's birthday and he can't go. i said i understand that

, lake -- [inaudible] actually it's a wonderful part of america. here we have two chinese immigrant families representing america. it's hard to imagine it in reverse from the chinese side. but then they are not in the great society. >> do they take it as an honor? >> and deep. as ambassador locke mentioned they want to claim him and steve chu as part of the greater chinese community when they start talking about human rights or disagree with him on climate change. but nonetheless it's an amazing moments in american history. >> you went over there just before or just after the big confrontation in august of 2011 over the debt crisis here and there is so much concern whether china would continue to surface our debts and by our investment, treasury bond. i was just wondering, what is the mayor theo up our political system is working and whether our economy, whether we are a worthy partner i guess. >> abuse in the top chinese government leaders as they have great confidence in the economy and know how strong it is. they've made statements to the south american leaders that have gone all

. but then that will require some other tax. that would be my big request like everybody else. get america's finances under control and that will take both parties. it will take taxes and it will take reduction in commitments that have been made. it now can be validated. let's get this but do it in a way that exacerbates the uncertain economy. the second -- we have to happen through innovation. whether it is the space program or tax credits for renewable energy. all that is important. we have to keep that going. that will get hard because we will face is demographics. that is my 74th birthday on april 7. i am aware of the and aging population which i have become and we are an aging population relative to what we were. luckily, we have millions of fresh arrivals that are younger and are energetic and they come from all over the world. we have to make sure our education system lifts them to their highest aspirations. when the society ages, it tends to -- it declines. that is the big demographic imperative. i was reviewing one of my favorite books on the roman republic. how did this village on the tiber grow

on the smartest ways to get them made as quickly as pock. >> and i feel like america knows we need to make the changes. medicare has never been changed since it was first put into place. you know, what do you think it's going to take to actually get things done here? i -- does it surprise you that we don't have a deal yet at this time in the calendar? >> i don't know that it surprises me we don't have a deal yet because the unfortunate truth about washington negotiations is anything hard doesn't tend to happen until the very last moment, and let me be honest about that. that has real economic consequences and costs. it's already harm our economy that we're waiting so long, but what i really think we need to see, and you're right, voters outside of washington understand these issues, but we need real honest discussion with the people people where instead of both side pretending that you can get this without the tough choices and going back to the bases and saying there are things you don't like and instead of the conversation always being us and them, two sides fighting it out instead of th

editor craig whitney on the history of gun ownership and then control in america from living with guns:a liberal's case for the second amendment saturday night at 10:00 eastern on booktv's afterwards, part of four days of nonfiction books and authors on c-span2. >> democratic senator daniel inouye died monday at the age of 88. the senate's senior member was serving his seventh term. tribute continued yesterday. this portion is an hour. >> first, my friend, chairman of the judiciary committee has been honored to receive one of the senate's high honors in the senate, i congratulate him on that. join with him in expressing my sadness over the passing of senator daniel inouye. he came to this government starting government service, 60 years ago in the territorial legislature of hawaii and came to congress when hawaii became a state in 59 and the senate in 63, only in service to robert bird -- to robert byrd. this is a serious man, a solid man, patriot, and one who always had a good spirit about how he conducted his affairs and how he related to other members of the senate and his constitue

what america wasl about. -- where i learned what america was all about. to impart any lessons about america on dan inouye would have been an honor but we may have taught him pales in comparison to what he tots. a few years ago danny told an audience that our greatness as a nation lies in part in our willingness to recognize the flaws in our past, including our treatment of japanese-americans, and our determination in whatever limited way we could to make amends. dan inouye served his country because of his dream of what we could be, a nation unbound by our all-too-human failings. he believed to his core that we are able to shed old prejudices and that our nation, de despiter flaws, shines with such bright promise that we can inspire remarkable service and sacrifice. a nation so great that those we treat with disdain or even hatred can respond with love that knows no limit. love is powerful as the love that dan inouye showed for all americans and for the very idea of america. i'm so grateful for the lessons that danny taught me, so grateful for his friendship. barb and i send our dee

to the president, we will also move to plan b. we all know every income tax filer in america is going to pay a higher rate january 1 unless congress acts. i believe it is important that we protect as many american taxpayers as we can. our plan b would protect american taxpayers who make a million dollars or less and have all their current rates extended. i continue to have hope that we can reach a broader agreement with the white house that would reduce spending as well as have revenues on the table. host: and some details on that plan b from a chart in the wall street journal today. and on the debt ceiling, it would be a one-year increase in this offer. that's different from president obama's latest offer that came out this week. the details on that, it would raise $1.20 trillion to $1.30 trillion. it would increase tax rates on capital gains and dividends i want to turn now to a reporter with a roll-call newspaper on capitol hill. jonathan strong, thanks for joining us. i went through some of the details on what this plan is. take us through it when and how this plan moves through the syst

people that we could possibly have in the united states of america, old folks whose cost of living is going up, whose health care have increased, and now we have a formula that was original designed to find out what was the cost of living so that the social security check will be able to be increased to meet the cost of living. now we're doing it backwards. we find out how much money we want to save. incidentally social security was never supposed to be involved in this procedure. how much money do we want to save, and then we say we'll get a formula, and the formula will save us that much money over ten years. it's just not fair to do this to old folks, most of whom are dependant on their checks completely or in part. >> congressman, why should social security not be part of it? people aren't stupid. we all know what the three major drivers of our debt are, medicare, medicaid, social security. social security hasn't been changed. all that's been changed is they changed the eligibility age and that's about it. >> the only reason that it is not supposed to be a part of this because

. >> and everything's on the table. >> as an outdoorsman, i think we need to completely rethink guns in america. >> i think we need to protect our kids at the school, though. everything's on the table. >> our thoughts and prayers are with the families in newtown. >> thank you both very much. right now it's time for "squawk on the street." good morning. welcome to "squawk on the street." which debuted on cnbc's seven years ago today. happy anniversary to us. i'm melissa lee with carl and jim cramer and david faber live from the new york stock exchange. let's look at how we're setting up after yesterday's rally. particular strength in yesterday's rally. we didn't get housing starts, that's earlier today. as for the picture in europe, really the stand outout here is the euro. greece getting a five notch upgrade at the s&p. our road map this morning starts with gm. government motors no more. the treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end of this month. >> another challenging quarter for fedex with the blame squarely on sandy. but the stock is up pre-mar

a corrective bounce and let's keep in mind that across north america it's been warmer than usual and so with that there has been more supply of oil and gas keeping the price lower. so to answer your question, i think we'll be okay through the holiday season. what are you doing with your money right now? right now i like boeing, i like occidental and i like halliburton. stocks that haven't caught up with the rally and will probably rally through the year's end. livin large---thank you very much that's larry shover of sfg alternatives. have a good day larry. thank you. one place money isn't going-- long-term investment in guns. as our cover story explains---investors--are distancing themselves from weapons manufacturers...as well as some retailers. pittsburgh-based dick's sporting goods is suspending sales of some rifles in it's nationwide chain of more than 500 stores in 44 states. no word how long the suspension will last. meanwhile, cerberus capital management, a new york based private equity firm says it will sell its investment in freedom group, a considation of one of the largest fi

. as we take a look into the americas, we have a low-pressure area starting to pull off toward the northeast. this is going to be creating all sorts of messy travel weather conditions throughout the next several days across the next central plains to the western great lakes. this low, see the lines really close together just off toward the north? it's indicating some 80 kilometer per hour winds, kicking up heavy snowfall, adding up to 30 centimeters, the storm continues to march toward the east and then toward the south, you have warm air and moisture inflow coming in. erupting the rick of severe weather. fast-moving storms from the west toward the east here. throughout your day on your wednesday evening, even into thursday as well. and coming by very gusty winds and heavy rainfall. the good news, doesn't look like the storms will be severe enough for tornadoes. take a look at this area. a little bit out of place. indicating dry weather. over here, moisture out of the gulf of mexico. here, out of the desert. that's creating fire weather conditions. if you have flammable items,

, but it did. those are two 2012 success stories that explain how robust corporate america really is and how unheralded that development is. what else? how about that the united states is producing more oil than any time in the last 17 years and producing enough to make along with canada and mexico our continent self-sufficient? plus if we were ever to harness our natural gas as a surface fuel, surface vehicles, we would become nationally self-sufficient. can you imagine what that could do? the ability to put millions to work to move this stuff to where it needs to be, pipelines, drilling, or to make our nation a better, cheaper, safer place to build a business and ultimately lower the price of gasoline, at least in some areas. this wasn't supposed to happen. as big a story as this was in 2012, you know what? it's going to be much bigger in 2013 as we hear about the new plants and factories we built here to take advantage of a relatively inexpensive oil and our incredibly cheap nat gas. how about the state of our company's balance sheets? again, not talked about enough. ♪ hallelujah weren'

it is a savior for america's economic -- >> that's why it was perfect for us because the stakes are so incredibly high so you want to put that pressure on which is the real pressure being put on these communities, high stakes poker that is a great place to set a story like this, who are we and where do we find ourselves today. >> rose: which is your story. >> exactly. >> what is the story? the story is matt's character, steve, comes into this small town and what we find out at the beginning of the movie is that steve's character is from a small town himself and actually had industry in that town, a caterpillar plant which shut down and just hollowed out the entire town financially and otherwise so he knows what these people are going through and how much they need financial help so he believes he is doing the right thing by going into these towns and offering them money to lease -- to drill on the land, and so then the town basically turns out to be a little more savvy and decide that that is not necessarily what they want, and then the debate begins. and my character is named dustin, and enviro

minutes could save you fifteen percent or more. >>> mid november's closing low. america, you are right now betting wealthier. >> if i didn't know better, i would say it is a roaring boom market. >> it feels like a growth, optimistic world. and then you say, what am i missing here? monitoris many is becoming more fashionable. well there are charts if you look at the last four years since the financial crisis. we have seen it around the world. there has been a positive relationship. there is evidence to support the theory. when you see the fed lowering interest rates, it looks for attractive. there has been some of that going on and i hope that lower yields printing this money is going to help spur some groemg. but i buy into that too, broadly. you have financials up 8%. materials and commodity stocks are up. >> and watch on that, because we are focused on the u.s. for a lot of good reasons right now. we have the new chinese government in recent days. you are seeing better data out of asia. some of the demand expected by china is influencing this demand too. does that contribute to all of th

's go over to the americas, then. it's going to be a very busy travel week because a christmas holiday is coming up next week. unfortunately, many drivers may run into hazardous conditions due to heavy snow. we have a winter storm affecting the four corners region with snow as well as howling winds. the system will quickly intensify and head toward the northeast. these conditions are likely across parts of kangs cancel and colorado, and snow will also spread into the upper midwestern states from your wednesday night. as much as 50 centimeters of sn is likely in wisconsin. and to the south severe thunderstorms will be wrapped around the central and southern mississippi river valley. even tornadoes are not out of the question. staying dry in western texas, but that is raising the risk of wildfires. and up toward the northeast snow showers are ongoing in southern quebec, the atlantic canada as well as new england states. temperatures are looking like this, and i will leave you now with your extended forecast. ♪ ♪ >>> that's all for this edition of "newsline." i'm catherine kobayashi i

's too soon to see the effects it may have for bank america's bottom line. >> it's a good gimmick to get people to start thinking about what they're saving. >> when you log onto this system, it not only digitally ages you, something you can do on iphone, which tells you digitally what things cost. when i retire, the domestic airfare is very expensive. $7 for a gallon of gas. >> $7 for a gallon of gas? >> who knows. >> why didn't you ask for an old tape of me. i can show you aging. it doesn't need to be digital. >> the problem is, even if we took a picture of you now. you wouldn't really age that much. you guys are eternal. >> i have to say, you don't look that deficit. >> i have to look pretty much -- >> are you going to show -- >> andrew is not here and that's a shame. we can do him. >> that's you. >> that's me. in case you didn't see it in the video. this is andrew. andrew wanted to make sure he got any lighting right in the picture. the middle picture is andrew if he ever retires. he's a workaholic. 107. still alive. he looks pretty good. >> if you're here at 107, not a bad deal. it c

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